Kaiser Aluminum (NASDAQ:KALU) Announces Earnings Results

Kaiser Aluminum (NASDAQ:KALU) released its earnings results on Wednesday. The industrial products company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.18), Briefing.com reports. Kaiser Aluminum had a return on equity of 6.84% and a net margin of 1.37%. The business had revenue of $748.00 million during the quarter, compared to analysts’ expectations of $793.30 million. During the same period last year, the business earned $0.46 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year.

Kaiser Aluminum Trading Down 4.5 %

Shares of NASDAQ KALU traded down $3.04 during midday trading on Thursday, reaching $64.51. 52,595 shares of the stock were exchanged, compared to its average volume of 140,688. The company has a 50 day simple moving average of $71.23 and a 200 day simple moving average of $83.20. The stock has a market capitalization of $1.04 billion, a P/E ratio of 19.64 and a beta of 1.33. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.42 and a current ratio of 2.55. Kaiser Aluminum has a twelve month low of $53.67 and a twelve month high of $102.42.

Kaiser Aluminum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.77%. Kaiser Aluminum’s dividend payout ratio is currently 89.53%.

Analyst Upgrades and Downgrades

Separately, Benchmark raised their target price on shares of Kaiser Aluminum from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 12th.

Insider Transactions at Kaiser Aluminum

In other news, CEO Keith Harvey purchased 2,588 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was acquired at an average price of $77.23 per share, for a total transaction of $199,871.24. Following the acquisition, the chief executive officer now directly owns 103,550 shares of the company’s stock, valued at approximately $7,997,166.50. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation, together with its subsidiaries, engages in manufacture and sale of semi-fabricated specialty aluminum mill products in the United States and internationally. It offers rolled, extruded, and drawn aluminum products used for aerospace and defense, aluminum beverage and food packaging, automotive and general engineering products.